Gilat Satellite Networks Ltd. $GILT Shares Purchased by Lbp Am Sa

Key Points

• Lbp Am Sa raised its stake in Gilat Satellite Networks by 31.7% in Q4, owning 961,719 shares (about 1.68% of the company) worth $12.445 million after acquiring an additional 231,258 shares.
• Several other institutions aggressively added shares—examples include Yelin Lapidot (+275.4%), Penserra (+831.1%) and Y.D. More (+913.0%)—and hedge funds/institutions now own about 35.72% of the stock.
• Gilat recently beat quarterly estimates (EPS $0.20 vs. $0.13; revenue $136.96M vs. $133.56M), has a consensus “Moderate Buy” rating with a $20 price target, while insiders have been selling (CEO sold 48,978 shares at $16.85).

Lbp Am Sa increased its stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 961,719 shares of the communications equipment provider's stock after acquiring an additional 231,258 shares during the quarter. Lbp Am Sa owned approximately 1.68% of Gilat Satellite Networks worth $12,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GILT. Yelin Lapidot Holdings Management Ltd. increased its stake in shares of Gilat Satellite Networks by 275.4% during the third quarter. Yelin Lapidot Holdings Management Ltd. now owns 681,549 shares of the communications equipment provider's stock worth $8,874,000 after purchasing an additional 500,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider's stock valued at $14,206,000 after buying an additional 419,843 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in Gilat Satellite Networks by 913.0% in the 4th quarter. Y.D. More Investments Ltd now owns 403,746 shares of the communications equipment provider's stock valued at $5,235,000 after buying an additional 363,890 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Gilat Satellite Networks in the 4th quarter worth about $1,693,000. Finally, Penserra Capital Management LLC increased its stake in Gilat Satellite Networks by 831.1% during the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider's stock worth $15,533,000 after buying an additional 1,064,959 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GILT has been the topic of several research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Wall Street Zen cut Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Finally, Freedom Capital raised shares of Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Insider Activity at Gilat Satellite Networks

In other Gilat Satellite Networks news, CEO Adi Sfadia sold 48,978 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total transaction of $825,279.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Doron Kerbel sold 7,500 shares of Gilat Satellite Networks stock in a transaction on Friday, March 20th. The shares were sold at an average price of $18.03, for a total value of $135,225.00. The SEC filing for this sale provides additional information. Corporate insiders own 1.13% of the company's stock.

Gilat Satellite Networks Price Performance

NASDAQ:GILT opened at $18.65 on Friday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 56.52 and a beta of 0.92. The company's 50-day moving average is $16.43 and its two-hundred day moving average is $14.88. Gilat Satellite Networks Ltd. has a 1-year low of $5.43 and a 1-year high of $20.38.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.07. The business had revenue of $136.96 million during the quarter, compared to the consensus estimate of $133.56 million. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. As a group, equities analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Gilat Satellite Networks Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company's core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.